Timeshare resales are timeshares that are being sold, second-hand, by owners who no longer want/require them. As such, for those who are looking to buy a timeshare, resales are often available as vastly reduced priced; 30%-50% less than developers or resorts usually charge for a new one. Here’s what else you need to know about Timeshare Resale.

Firstly, timeshare resales are often completed via private forums, directly from seller to buyer. This means that the price and terms of the deal are set by the seller; therefore the buyer does not have to deal with the complications of buying a new timeshare through a resort. It also puts more control in the buyer’s hands, mainly over the pace at which everything happens. There is less pressure to move quickly because there are no salesmen trying to hit targets.

This is all good news for buyers, but what about sellers? Well, most importantly, you’re not going to get back all of the money you paid for your timeshare in the first place, but it is a good way to offload your timeshare contract if changes in your circumstances mean you no longer want the financial commitment. In the long term, a resale will save you more than you would ultimately spend otherwise.

If you want to offload your timeshare via a resale, you need to think about it like you would any other property. It needs listing on a popular website where people will find it; you need to be thoughtful in marketing your timeshare, taking good quality and complimentary photographs; and, very importantly, you’ll have to be patient. There is no guarantee that your timeshare will be snapped up, but there are plenty of potential buyers out there. Don’t be disheartened too quickly; it might take a number of months, but don’t give up.

A word of warning for both buyers and sellers, there are scammers out there who will try and trick you out of money, no matter what side of the deal you’re on. Fake sellers will try and take your money by showing you fake timeshare properties; people will pop up and tell you that they have a buyer ready for you, but that you need to pay for an appraisal first. Don’t do it! It’s a scam. If you’re the seller, there should be absolutely no fees for you to pay because they buyer is responsible for all of them. So, be cautious and do your research, check and double check everything to make sure it’s all above board.

Timeshare resale is a great way of getting rid of an unwanted timeshare; on the other side of the transaction, it’s a brilliant way of getting a great timeshare for much less money than you would normally have to pay. So long as you act with caution every step of the way, you’re sure to come out with a great deal.